Eight Years After Handover, 'Foreign Exchange Killer' Perng Fai-nan Publishes Memoir, Praises Yang Chin-long's Performance
Former Central Bank Governor Perng Fai-nan, who handed over his position eight years ago, has published his memoir and highly praised the performance of current Governor Yang Chin-long. Perng served as governor for 20 years and was known as the '14A Governor.' Governor Yang has navigated challenges such as the US-China trade war and the COVID-19 pandemic, forging his own path.
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- 📰 Published: May 12, 2026 at 19:02
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TAIPEI, May 12 (CNA reporter Pan Tzu-yu) – After former Central Bank Governor Perng Fai-nan steered the Central Bank for 20 years, he handed over the reins to his protégé, current Central Bank Governor Yang Chin-long, in 2018. Since taking office, Yang Chin-long has faced a series of challenges, including the US-China trade war and the COVID-19 pandemic, and has forged his own path with more flexible approaches. When asked today about Yang Chin-long's performance since taking office, Perng did not hesitate to praise him, responding, 'Very good.'
Perng Fai-nan served as Governor of the Central Bank from February 1998 until his resignation in February 2018, a total of 20 years, making him the longest-serving Central Bank Governor in Taiwan's history. He was dubbed the '14A Governor' for receiving an 'A' rating from Global Finance magazine 14 times.
During his tenure, Perng Fai-nan was known for his tough style, with his most acclaimed achievement being his iron-fisted suppression of the New Taiwan Dollar non-deliverable forward (NDF) market during the Asian financial crisis.
After Perng Fai-nan stepped down in 2018, he retreated behind the scenes. The public wondered whether Yang Chin-long would 'follow Perng's rules.' However, during Yang Chin-long's tenure, he successively experienced the US-China trade war, the pandemic, and the 'epic appreciation storm' of the New Taiwan Dollar in May 2025. During the pandemic, he implemented 'targeted easing' measures to support corporate funding needs and continuously strengthened communication with society. Outsiders interpret that Yang Chin-long has 'forged his own path.'
The new book, Perng Fai-nan's memoir 'Perng Fai-nan, the Eternal Banker,' published by Linking Publishing, was officially released today, and a book launch event was held. Due to Perng Fai-nan's profound influence in Taiwan's economic and financial circles, the event was packed. Former Central Bank Deputy Governor Chou A-ting, former Financial Supervisory Commission Chairman Huang Tien-mu, former Straits Exchange Foundation Chairman Wu Feng-shan, and many retired Central Bank executives attended. Current Central Bank Governor Yang Chin-long and two Deputy Governors Yen Tsung-ta and Chu Mei-li originally planned to attend, but Perng Fai-nan hoped they would prioritize official duties, so Yang Chin-long and other high-ranking Central Bank officials ultimately did not attend.
Wu Feng-shan stated in his speech that a nation's successful development is due to a small number of elites dedicating themselves to their professional fields, diligently and persistently. Taiwan is no exception. If TSMC founder Morris Chang had not painstakingly worked for decades, there would be no 'sacred mountain' TSMC today. If Perng Fai-nan had not diligently guarded the Central Bank for decades, Taiwan would not have a modernized national financial system.
Presidential Advisor Chen Chung-yuan, who has a deep friendship with Perng Fai-nan, mentioned that Perng always cared about public affairs. The two often had lunch together in the past, and Perng always thought about his duties during meals, eager to return to the Central Bank office. 'This is the Perng Fai-nan I know, concerned about the nation and its people.'
However, Chen Chung-yuan revealed that Perng Fai-nan suffered from illness last year and at one point needed a wheelchair. He underwent surgery in April last year and recuperated in the hospital for a week. (Editor: Lin Shu-yuan) 1150512
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Perng Fai-nan served as Governor of the Central Bank from February 1998 until his resignation in February 2018, a total of 20 years, making him the longest-serving Central Bank Governor in Taiwan's history. He was dubbed the '14A Governor' for receiving an 'A' rating from Global Finance magazine 14 times.
During his tenure, Perng Fai-nan was known for his tough style, with his most acclaimed achievement being his iron-fisted suppression of the New Taiwan Dollar non-deliverable forward (NDF) market during the Asian financial crisis.
After Perng Fai-nan stepped down in 2018, he retreated behind the scenes. The public wondered whether Yang Chin-long would 'follow Perng's rules.' However, during Yang Chin-long's tenure, he successively experienced the US-China trade war, the pandemic, and the 'epic appreciation storm' of the New Taiwan Dollar in May 2025. During the pandemic, he implemented 'targeted easing' measures to support corporate funding needs and continuously strengthened communication with society. Outsiders interpret that Yang Chin-long has 'forged his own path.'
The new book, Perng Fai-nan's memoir 'Perng Fai-nan, the Eternal Banker,' published by Linking Publishing, was officially released today, and a book launch event was held. Due to Perng Fai-nan's profound influence in Taiwan's economic and financial circles, the event was packed. Former Central Bank Deputy Governor Chou A-ting, former Financial Supervisory Commission Chairman Huang Tien-mu, former Straits Exchange Foundation Chairman Wu Feng-shan, and many retired Central Bank executives attended. Current Central Bank Governor Yang Chin-long and two Deputy Governors Yen Tsung-ta and Chu Mei-li originally planned to attend, but Perng Fai-nan hoped they would prioritize official duties, so Yang Chin-long and other high-ranking Central Bank officials ultimately did not attend.
Wu Feng-shan stated in his speech that a nation's successful development is due to a small number of elites dedicating themselves to their professional fields, diligently and persistently. Taiwan is no exception. If TSMC founder Morris Chang had not painstakingly worked for decades, there would be no 'sacred mountain' TSMC today. If Perng Fai-nan had not diligently guarded the Central Bank for decades, Taiwan would not have a modernized national financial system.
Presidential Advisor Chen Chung-yuan, who has a deep friendship with Perng Fai-nan, mentioned that Perng always cared about public affairs. The two often had lunch together in the past, and Perng always thought about his duties during meals, eager to return to the Central Bank office. 'This is the Perng Fai-nan I know, concerned about the nation and its people.'
However, Chen Chung-yuan revealed that Perng Fai-nan suffered from illness last year and at one point needed a wheelchair. He underwent surgery in April last year and recuperated in the hospital for a week. (Editor: Lin Shu-yuan) 1150512
Stand with facts, your sponsorship is the power to protect press freedom.
Download the CNA 'First-hand News' APP to stay updated with the latest news.
The text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.